Marketing executives responsible for driving corporate growth are being hampered in their efforts by insufficient budgets, skills shortages and inadequate tools, according to a new study by Accenture (NYSE: ACN). The study, ‘Onward and Up ‘ How Marketers Are Refocusing the Front Office for Growth,’ also found that marketers today are increasingly challenged by their companies’ customers who demand greater value, quality and service.
The 400 senior marketing executives surveyed for the study across Asia Pacific, Europe and North America said their top strategic objectives include improving operational efficiency, increasing profitability and responding effectively to change. However, the barriers they said they must overcome to achieve those objectives include : inefficient business practices (cited by 21 percent of marketers), inadequate funding or other resources (17 percent), insufficient integration with other business functions (15 percent), a lack of required skills (13 percent) and lack of access to the customer data they need (6 percent).
Additionally, only 23 percent of the marketers said their organizations excelled in customer analytics, innovation, customer engagement and marketing operations at the same time and 33 percent said they did not perform well in any of those areas.
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